Ionik Reports Q3 2025 Results

Executive Summary

• Ionik reported Q3 2025 revenue of $48.9 M, up 18% YoY, driven by the 2024 acquisitions of Nimble5 and Rise4.
• Adjusted EBITDA rose 56% YoY to $9.2 M and Adjusted Free Cash Flow reached $9.1 M, while senior debt was reduced by $5.2 M.
• The company granted 5,305,000 RSUs to officers under its Omnibus Equity Incentive Plan.

Key Details

• Revenue: $48.9 M (↑18% YoY vs. $41.4 M in Q3 2024).
• Gross Profit: $20.8 M (42% margin, ↑26% YoY).
• Adjusted EBITDA: $9.2 M (↑56% YoY; ↓3% QoQ).
• Adjusted Free Cash Flow: $9.1 M (98% conversion rate).
• Net Loss (continuing operations): $(1.0) M vs. $(2.6) M in Q3 2024.
• Cash Balance (Sept 30 2025): $6.0 M (up from $5.1 M at June 30 2025). No draw on $10.0 M revolving facility.
• Total Undiscounted Debt: $112.4 M (down from $117.5 M at June 30 2025); senior debt net of cash $68.5 M.
• Debt Reduction: Principal payments of $5.2 M on senior term facility during the quarter.
• RSU Grant: 5,305,000 restricted share units awarded to officers; 25% vest after one year, then 6.25% quarterly.
• Acquisition Impact: Growth attributed primarily to Nimble5 (Sept 2024) and Rise4 (Nov 2024) acquisitions.

Notable Quotes

“We delivered another financially strong quarter with EBITDA over $9 million, reducing our senior debt by $5.2 million and increasing our cash balance at the end of the current quarter as compared to prior quarter,” – Ted Hastings, CEO.

All figures are in U.S. dollars unless otherwise noted.